(Updated on Apr 1st, 2022)
As the retail world embraces web 3.0, digital spaces and the metaverse, NFTs are quickly emerging as a new revenue stream in the beauty and fashion world. The latest end-to-end NFT solution can help your brand enter the NFT marketplace. Read on to learn all about NFTs and how to set your brand up for success in this new space.
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What is an NFT?
An NFT, which stands for non-fungible token, is a unique digital asset. NFTs are digital files that come in the form of images and videos. These digital files are logged and authenticated on cryptocurrency blockchains, primarily Ethereum.
Once content is logged onto the blockchain, every transaction from transfers to sales is recorded on-chain, creating an easily accessible ledger (Art News1).
Brands across the art, music, news, sports and gaming industries have introduced NFT collections and campaigns as a new way to engage and excite their customer base. NFT marketing trend has grown to be one of the biggest trends in retail over the past year and is set to play a key role in the growth of beauty and fashion retail in 2022.
Why Fashion and Beauty Brands Want to be Leveraging NFT Marketing
NFTs have quickly emerged as the next big revenue stream in the beauty and fashion industry, and represent a major growth opportunity for brands in this space.
NFTs Connect Brands with Consumers Through Digital Collectibles
NFTs allow beauty and fashion brands to connect with consumers in an exciting new way through digital collectibles that are becoming more essential as the world moves towards immersive experiences in the metaverse.
NFTs Create Exclusivity & Community Among Loyal Followers
In many cases, NFT owners will gain access to digital artwork but also unlock access to physical versions of the product. As NFTs can be owned by a finite number of consumers, this creates exclusivity and community among a brand’s most loyal followers.
5 Fashion Brand Examples on NFT Marketing
Many beauty and fashion brands are staying ahead of the curve and delving into the enticing world of NFT’s. Let’s explore some of the most prominent examples and success cases on how to market NFTs in the beauty and fashion industries.
Gucci - Pioneers of NFT Marketing
Gucci was one of the first fashion brands to tap into the NFT craze. The famous luxury fashion house ran an NFT-focused auction2 in May 2021, offering bidders the opportunity to purchase a fashion film inspired by Gucci's Aria collection.
The proceeds from the NFT sales were donated to UNICEF USA to promote global access to COVID-19 vaccines. Most recently, the fashion powerhouse teamed up with SuperPlastic, global digital collectible company, to launch SuperGucci3, a three-part series of exclusive NFTs.
e.l.f Cosmetic - Launches New Collections in NFT Marketing
e.l.f. Cosmetics entered the beauty NFT space in June 2021 with its eye-catching #CryptoCosmetics4 makeup collection. The collection consisted of the artwork of three of its famous products—Poreless Putty Primer, 16HR Camo Concealer, and Ride or Die Lip Balm.
The beauty brand offered only three NFT artworks of each product, a total of 9 gold-dipped pieces, or as the brand called them - “Ne.l.f.Ts.”
Nars Cosmetics - Connects NFT Marketing with Famous Products
NARS Cosmetics debuted its series of NFTs – digital artwork inspired by the brand’s famous Orgasm blush – in August 2021. The beauty giant partnered with online marketplace Truesy for the sale of the NFTs. The artwork was created by three female artists that NARS commissioned: fashion designer Azéde Jean-Pierre, collage and crystal artist Sara Shakeel, and DJ and music producer Nina Kraviz.#4.
Givenchy Parfums - Creates NFT to honor LGBTQIA CommunityTo celebrate Pride Month in 2021, Givenchy Parfums partnered with London gallery owner and LGBTQIA+ activist Amar Singh, as well as artists Rewind Collective, to create 2D animated NFT artwork5 to honor the LGBTQIA community. The 1,952 copies, each listed at £100, sold out in 2 seconds on the popular NFT collectables platform VeVe.
Louis Vuitton - Combines NFT Marketing with Games
Louis Vuitton combined fashion and technology by introducing “Louis the Game”*6, an adventure-style game.
The game’s main character has to move through six different worlds, collecting 200 candles meant to commemorate the 200th birthday of Louis Vuitton celebrated in 2021. Throughout the game, users can find 30 embedded NFTs designed in collaboration with Beeple, a popular NFT artist. Each NFT can be obtained only by playing the game and cannot be sold.
How to Market NFTs with Virtual Try-ons
NFTs open the door to new opportunities and revenue for fashion and beauty brands, allowing them to entertain and engage consumers in a new space. NFTs offer unique and captivating experiences for the customers, elevate brand awareness through innovative interaction with users, drive business growth and increase revenue streams by selling fully digital assets or hybrid combinations of virtual and physical offerings.
Considering the significant potential and benefits of NFTs as a marketing tool, beauty and fashion brands should embrace this new opportunity. Furthermore, NFTs are a great way for brands to enter and solidify their position in the Metaverse, a virtual world where people interact, shop, as well as create and consume content.
▼See the world’s first virtual try on NFTs for your NFT marketing strategy.
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A NFT You Can Interact With
For brands eager to engage consumers in a whole new way with NFTs, Perfect Corp. offers an innovative turnkey NFT solution that delivers complete end-to-end NFT publishing capabilities. Beauty and fashion brands will be able to further enhance their NFT offerings and deliver truly engaging and personalized experiences to consumers via integrated AR virtual try-on technology.
What sets Perfect Corp.’s NFT solution apart is that users will be able to not only admire a particular virtual artwork, but also interact with the NFT and bridge the virtual and physical worlds with virtual try-on.
Exquisite Digital SKUs Make NFT Marketing Easy
Perfect Corp. has the world’s largest digital beauty product inventory containing over 370K digital SKUs, paving the way towards the largest beauty-focused NFT platform with the highest number of beauty-inspired assets. With Perfect Corp.’s help, beauty and fashion brands can easily digitize their SKUs, transform digitized assets to NFTs, and set NFTs up for purchase on Opensea, the largest NFT marketplace. Bringing one-of-a-kind, interactive NFTs to market has never been easier.
Easy Users' Purchase Flow with Your NFT Marketing Solution
The entire process is fairly simple. A buyer purchases one-of-a-kind AR-enabled art piece or digital token.
Then, the NFT will be available to the owner for AR virtual try-on through a digital wallet in Perfect Corp.’s YouCam Makeup app. This first-of-its-kind experience will provide added value to NFT owners, allowing them to express their loyalty and support for the brand as well as adding an element of exclusivity, similar to the feeling of purchasing a unique luxury item in a physical world. With the enhanced virtual try-on capability, owners can interact with their NFTs and see digitized products come to life in a personalized, engaging way.
▼ Watch the purchase flow in videos:
More NFT Strategy Possibilities With the AR Powered NFT Marketing Solution
Perfect Corp.’s hyper-realistic AR virtual try-on technology encompasses a wide range of product categories across beauty and fashion, enabling brands to transform and digitize such assets such as makeup looks, watches, jewelry, glasses, nail art, and more.
Leverage the NFT Market With the Best NFT Marketing Solution
At first, it might be difficult to see the connection between the high tech and futuristic world of NFTs and the glamorous world of beauty and fashion. However, there is a great opportunity for creative exploration and increased consumer engagement in this space. NFTs offer a way for brands to step out of their comfort zone, experiment creatively and collaborate with various artists to present the brand in a different light, provide brand loyalists with exclusive assets and experiences, and attract tech-savvy, younger consumers.
NFT Marketings FAQs
How to Market NFTs?
NFTs have already become mainstream and so has NFT marketing. Currently, the most common way to market NFTs is by working with celebrities and influencers on social media. Choosing the right social media platform to market your NFTs is essential. Tweeter, Discord, Instagram and Reddit are the main platforms used for NFT marketing. Alternatively, email marketing is also a good way to increase the visibility of your NFTs.
However, you still need to focus on your product and what it can offer to your customers. Most NFTs currently on the market are images or videos, but what if people could actually interact with NFTs?
Perfect Corp. has developed the world’s first makeup and accessories virtual try-on NFTs. NFT customers now may not only enjoy NFTs as collections, they can also play with them and virtually try them on, and by that, customers may get to know more of your product and your brand.
Get expert advice from Perfect Corp. and be part of the beauty tech trend. Contact us for details on beauty tech solutions trusted by 400+ brands globally.
Read our “Beauty Tech: The Complete Guide 2022” to unlock powerful ROI secrets.